USDCHF Price: Ranging Movement Continue Within $0.84 and $0.85 Levels

Bulls are defending $0.83 level

USDCHF Price Analysis – 27 September

The price may rise above $0.86 and get close to the $0.87 barrier levels if the purchasing momentum can hold above the $0.85 resistance level. Sellers have the ability to push the price past $0.84 and into the $0.83 and $0.82 zones if they apply sufficient pressure.

Key Levels:

Resistance levels: $0.85, $0.86, $0.87

Support levels: $0.84, $0.83, $0.82

USDCHF Long-term trend: Bearish

There is a downward trend on the USDCHF daily chart. A negative USDCHF market helped customers, but not by nearly as much as $0.87. From May 1 to June 20, buyers controlled the USDCHF market. A few weeks ago, the currency pair’s price was virtually exactly $0.87. A bearish engulfing candle pattern was seen close to the first recommended level. The price immediately fell to $0.84, indicating a large loss. The start of the negative trend was indicated by two tests of the previously established support level. At the moment, it’s heading toward $0.85.

A negative reversal impulse is shown by the USD/CHF exchange rate, which is currently less than the Hull Suite. The forex signal QQE MOD, which is skewed below the zero line, indicates price declines. The price may rise above $0.86 and get close to the $0.87 barrier levels if the purchasing momentum can hold above the $0.85 resistance level. Sellers have the ability to push the price past $0.84 and into the $0.83 and $0.82 zones if they apply sufficient pressure.

USDCHF Medium-term Trend: Bearish

It becomes evident that in the medium term, the USDCHF is falling. A bearish engulfing candle formation near the $0.90 resistance level a few days ago triggered a decline in the currency pair. On August 15, the price made yet another failed attempt to break beyond the $0.87 barrier. Right now, the price is almost exactly $0.83.

A bearish market is indicated by the currency pair’s trading below the Hull Suite forex signals. It is advised to offer for sale if the QQE MOD is less than zero.

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